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Employee Capital Plans at the Jagiellonian University

Employee Capital Plans at the Jagiellonian University

Employee Capital Plans (ECP) are a common, private, and voluntary system of long-term saving. The savings are built up jointly by employees, employers and the state. The main goal of the ECP is to supplement the future retirement benefits with additional funds to improve the economic status of future pensioners, as, according to experts, in several dozen years retirement pensions may amount to only 30 percent o the last salary.

From January 2021, the system will also include state-funded institutions. In December 2020 the JU Vice-Rector for Human Resources and Financial Management Prof. Piotr Jedynak signed the agreement on ECP management at the Jagiellonian University.

At the Jagiellonian University the ECP will be managed by the Nationale Nederlanden Investment Partners, the asset management company chosen based on criteria taking into account the employees’ interests and the opinion of trade unions.

The first contributions to the Employee Capital Funds will be deducted from salary in April 2021. This will be preceded by the information campaign about this form of retirement saving, presenting the benefits from participation in the ECF to the JU staff, as well as the risk related to this scheme. It should be stress that participation in the Employee Capital funds is entirely voluntary.

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